Since Feb. 14, Voyager has despatched crypto belongings to Coinbase on an virtually every day foundation, alleges on-chain analyst Lookonchain.
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Voyager Digital, the centralized finance (CeFi) platform that filed for Chapter 11 chapter in July 2022, is reportedly promoting belongings by means of the Coinbase crypto alternate. On-chain knowledge recommend that Voyager acquired no less than $100 million in USD Coin (USDC) in three days, beginning Feb. 24.
Since Valentine’s Day, Feb. 14, Voyager has despatched crypto belongings to Coinbase on an virtually every day foundation, alleges on-chain analyst Lookonchain. The investigation exhibits that Voyager transferred tens of millions of {dollars} utilizing a combined bag of cryptocurrency tokens, together with Ether (ETH), Shiba Inu (SHIB) and Chainlink (LINK).
1/ Plainly #Voyager is promoting belongings by means of #Coinbase.
We observed that #Voyager has acquired 100M $ USDC from #Coinbase prior to now 3 days.
And #Voyager has despatched belongings to #Coinbase virtually day by day from Feb 14.https://t.co/VW8o8dBQtqhttps://t.co/qbHt0r7VNG pic.twitter.com/kfxF6rwHFk
— Lookonchain (@lookonchain) February 26, 2023
Lookonchain revealed Voyager’s use of 23 tokens, valued at over $100 million. The picture beneath exhibits an inventory of tokens with their worth in U.S. {dollars}. Nonetheless, Coinbase has not but responded to Cointelegraph’s request for remark to substantiate the declare’s legitimacy.
Regardless of the sell-off, Voyager holds practically $530 million in crypto, with the biggest shares in Ether ($276 million) and Shiba Inu ($81 million).
Associated: Voyager creditors serve SBF a subpoena to appear in court for a ‘remote deposition’
Amid the alleged sell-off of funds, the US Securities and Trade Fee (SEC) objected to Binance.US’ transfer to accumulate over $1 billion of belongings belonging to Voyager.
In a Feb. 22 submitting submitted to the U.S. Chapter Court docket for the Southern District of New York, the SEC acknowledged:
“Nonetheless, the Debtors (Binance.US) have but to display that they might be capable to conduct such gross sales in compliance with the federal securities legal guidelines.”
The submitting highlights considerations over the lawfulness and skill to undertake deliberate asset restructuring by means of the acquisition. It additionally questions whether or not Voyager debtors can recoup a few of their belongings following the agency’s chapter.
